George Soros made his fortune as an investor and currency speculator. He has been dubbed "the man who broke the Bank of England" for short selling $10 billion in UK pounds, triggering the UK's exit from the European Exchange Rate mechanism.
He warns that Eurozone Leaders must fundamentally change strategy else we face "a meltdown of the global financial system because we are so interconnected." Whilst others dither, Soros calls on his experience to prescribe the exact actions to be taken:
1 - Eurozone leaders need to address the Eurozone's fundamental economic flaw - it has a single currency but no lender of last resort – it must create a common treasury.
2 - Meantime, Eurozone leaders need to create a powerful weapon to resolve the immediate crisis – a "bazooka"!